Margaret Thatcher signs the Single European Act, which eventually becomes the world’s largest free trade area.

1992

The UK is ejected from the Exchange Rate Mechanism, a forerunner to the single currency that limits exchange-rate fluctuations among members. It also negotiates an opt-out from the part of the Maastricht Treaty that would have required it to adopt a common currency.

1996

EU bans the sale of British beef for three years during the outbreak of “mad cow” disease.

2002

Image: REUTERS

Twelve EU countries introduce the euro as legal tender. Britain sets out five economic tests to be met before it joins. They are not met.

2008

The collapse of Lehman Brothers triggers a worldwide credit crunch and the launch of a global bailout fund to which the UK contributes.

2011

Fears of a second banking collapse in Europe prompts another international bailout, including Britain.

2015

A young Syrian Kurdish refugee boy carries an infant after crossing the Syrian-Turkish border

Image: REUTERS/Murad Sezer

A European migration crisis triggers anti-EU sentiment in the UK.

Britain's Conservative party is re-elected on a platform promising a referendum on membership of the EU.

2016

In a close-run referendum, the UK votes to leave the EU.

2016

Negotiations will begin on the terms of the UK exit and the nature of the country's subsequent relationship with the EU.

2018

The UK will no longer be bound by existing EU treaties, unless all 27 states agree to extend negotiations.